Janet Yellen, the first female chief of the Federal Reserve in its 100-year history, hasn't made a lot publicly of her historic status. But on Tuesday Ms. Yellen's focus was all on the ladies. And for a roomful of high-powered officials, it was all about her.

"For me, one lesson from history is that it is no coincidence that America's great success in the past century came as women steadily increased their participation in every aspect of society," including the economy, Ms. Yellen said at a reception honoring...